{"id":24473,"date":"2024-07-06T20:00:37","date_gmt":"2024-07-06T17:00:37","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24473"},"modified":"2024-07-06T17:17:11","modified_gmt":"2024-07-06T14:17:11","slug":"taiwan-mobile-secures-vasp-license","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/taiwan-mobile-secures-vasp-license\/","title":{"rendered":"Taiwan Mobile Secures VASP License, Prepares to Launch Bitcoin Exchange"},"content":{"rendered":"<p><strong>Taiwan Mobile<\/strong> receives a VASP license, enabling it to enter the cryptocurrency exchange market. The move boosts the local crypto industry and aligns with new regulatory measures.<\/p>\n<p>Local sources claim that <strong>Taiwan Mobile<\/strong>, the second-largest telecoms company in the nation, has a <strong>virtual asset service provider (VASP)<\/strong> license from the <strong>Financial Supervisory Commission (FSC)<\/strong>. This license prepares the business to launch a bitcoin exchange.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/taiwan-mobile-secures-vasp-license\/#Joining_the_Crypto_Market\" title=\"Joining the Crypto Market\">Joining the Crypto Market<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/taiwan-mobile-secures-vasp-license\/#Improving_the_Sector\" title=\"Improving the Sector\">Improving the Sector<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Joining_the_Crypto_Market\"><\/span>Joining the Crypto Market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>26th firm licensed as a VASP is <strong>Taiwan Mobile<\/strong>, sometimes called as Taiwan Big Brother in Chinese. Over a year of examining the crypto sector, Bloomberg speculates that Taiwan Mobile was looking to purchase an already-existing exchange. Taiwan Mobile owned Fusheng Digital was the name under which the VASP license was issued. Lin Zhichen heads both organizations.<\/p>\n<p><strong>Taiwan Mobile<\/strong> has to satisfy various Anti-Money Laundering (AML) criteria before getting the VASP license. These obstacles have been removed, hence the business qualifies for participation in the June-founded self-regulating Taiwan Virtual Asset Service Provider Association.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Improving_the_Sector\"><\/span>Improving the Sector<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Since most <strong>VASP<\/strong> members are startups, the arrival of a big company like Taiwan Mobile would help the sector greatly, says United Daily News. Chairman Zheng Guangtai pointed out that the inclusion of businesses from different industries gives the organization fresh knowledge and tools.<\/p>\n<p>Mid-2023 the <strong>FSC<\/strong> assumed control of crypto regulation. It barred overseas operations in September and developed management rules for crypto companies. October saw a measure proposed in the Taiwanese parliament supporting these rules with penalties.<\/p>\n<p>In March, the FSC said it will draft legislation tightening control and strengthening consumer rights. In May, the Justice Ministry suggested changes to AML rules wherein breaches by VASPs would result in jail sentences for accountable individuals.<\/p>\n<p>In a similar event, <strong>Binance<\/strong> solved a $6.2 million money laundering case in May working with the Justice Ministry; nine people were charged with organized crime, fraud, and money laundering.<\/p>\n<p><i><span style=\"font-weight: 400\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i><a href=\"https:\/\/t.me\/coinengineernews\"><i><span style=\"font-weight: 400\">Telegram, <\/span><\/i><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\"><i><span style=\"font-weight: 400\">YouTube<\/span><\/i><\/a><i><span style=\"font-weight: 400\">, and <\/span><\/i><a href=\"https:\/\/twitter.com\/coinengineers\"><i><span style=\"font-weight: 400\">Twitter<\/span><\/i><\/a><i><span style=\"font-weight: 400\"> channels for the latest <\/span><\/i><a href=\"https:\/\/coinengineer.net\/blog\/news\/\"><i><span style=\"font-weight: 400\">news<\/span><\/i><\/a><i><span style=\"font-weight: 400\"> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Taiwan Mobile receives a VASP license, enabling it to enter the cryptocurrency exchange market. The move boosts the local crypto industry and aligns with new regulatory measures. Local sources claim that Taiwan Mobile, the second-largest telecoms company in the nation, has a virtual asset service provider (VASP) license from the Financial Supervisory Commission (FSC). This<\/p>\n","protected":false},"author":6,"featured_media":24475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1,2],"tags":[7215,7214,7216],"class_list":["post-24473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","category-news","tag-financial-supervisory-commission-fsc","tag-taiwan-mobile","tag-virtual-asset-service-provider-vasp"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Taiwan Mobile Secures VASP License, Prepares to Launch Bitcoin Exchange - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/taiwan-mobile-secures-vasp-license\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Taiwan Mobile Secures VASP License, Prepares to Launch Bitcoin Exchange - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Taiwan Mobile receives a VASP license, enabling it to enter the cryptocurrency exchange market. The move boosts the local crypto industry and aligns with new regulatory measures. Local sources claim that Taiwan Mobile, the second-largest telecoms company in the nation, has a virtual asset service provider (VASP) license from the Financial Supervisory Commission (FSC). 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